TFS Financial Corporation (the Company), a federally chartered
stock holding company, conducts its principal activities through its wholly
owned subsidiaries and had total consolidated assets of $11.8 billion at
September 30, 2014. The principal line of business of TFS Financial Corporation
and its subsidiaries (collectively, TFS Financial or the Company) is retail
consumer banking, including mortgage lending, deposit gathering, and other
insignificant financial services.

On September 30, 2014, approximately 75% of the Holding Company's outstanding
shares were owned by a federally chartered mutual holding company, Third
Federal Savings and Loan Association of Cleveland, MHC (Third Federal Savings,
MHC). The thrift subsidiary of TFS Financial is Third Federal Savings and
Loan Association of Cleveland (the Association).